Exports- Creative Commons cia Pixabay Exports- Creative Commons cia Pixabay

Egypt's exports to US reach $2.5B in 2018

Mon, Jun. 17, 2019
CAIRO - 17 June 2019: Egypt's exports to the United States of America recorded $2.5 billion in 2018, compared to $1.6 billion in 2017, according to Commercial Representative Office.

According to the revealed data, Egypt's imports from US reached $5.05 billion during 2018, compared to $3.9 billion during the prior year, with an increase of 26.6 percent.
It revealed that Egypt's petroleum exports to US surged 329 percent in 2018, recording $822 million, compared to $191 million in 2019.

Meanwhile, the non-petroleum exports jumped 14.8 percent to reach $1.6 billion in 2018, up from $1.4 billion in 2017.

It also referred that exports of Qualifying Industrial Zones (QIZ) hit $877 million, marking an increase of 16.8 percent.

Egypt signed the Qualified Industrial Zone (QIZ) agreement with Israel and the United States in December 2004, allowing Egyptian products to enter American markets with no tariffs, provided that Israeli components represent 11.7 percent of these products.

In October 2017, Egypt signed a new agreement with Israel, including a modification of the QIZ deal, reducing the percentage of Israeli components in Egyptian products to 10.5 percent.
 
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